S&P/Case-Shiller report: 'The recovery is definitely broad based'

San Diego home prices have hit a nearly 5-year high, ushering in more evidence to "confirm the housing recovery’s strength," the S&P/Case Shiller home price index reported on Tuesday.

Residential real estate prices rose nearly 15 percent from a year ago and almost 4 percent from the previous month, based on April figures from the national real estate indicator. Those gains bring back home values to June 2008 levels.

The index, which has two a month lag, calls the housing bounce-back "broad based."

When looking at all of the 20 major metro areas in the index, prices are up 12 percent year-over-year, the highest return in seven years.